Foreword
Rachel Personius Director, U.S. Currie & Brown
This quarter’s report provides an in-depth analysis of the healthcare sector, a dynamic space that faces both significant challenges and opportunities as it adapts to evolving economic conditions.
Healthcare systems are addressing aging infrastructure and shifting patient care needs, driving demand for innovative and cost-effective construction solutions. However, rising costs, project backlogs, and resource constraints present challenges that require new strategies. Additionally, the outcome of the 2024 election could influence healthcare costs and funding, shaping how systems prioritize investments in infrastructure.
This report aims to equip stakeholders with insights to navigate the complexities of the healthcare construction landscape and identify potential opportunities.
How could a second Trump term impact the construction industry?
A second Trump administration could have varied impacts on the construction industry. Regulatory changes, similar to those enacted during his first term, could streamline permitting processes and reduce project delays. This may improve the industry's capacity to utilize funding from initiatives like the CHIPS Act, Infrastructure Investment and Jobs Act, and Inflation Reduction Act, potentially shortening timelines and reducing costs for project owners.
Conversely, policies on tariffs and immigration could pose challenges. Increased tariffs on imported goods might drive up material costs, contributing to construction inflation. Additionally, stricter immigration policies could exacerbate labor shortages, further affecting project timelines and costs.
The interplay of these factors will be critical to monitor as the construction industry prepares for 2025.
How could a second Trump term impact the construction industry?
A second Trump administration could have varied impacts on the construction industry. Regulatory changes, similar to those enacted during his first term, could streamline permitting processes and reduce project delays. This may improve the industry's capacity to utilize funding from initiatives like the CHIPS Act, Infrastructure Investment and Jobs Act, and Inflation Reduction Act, potentially shortening timelines and reducing costs for project owners.
Conversely, policies on tariffs and immigration could pose challenges. Increased tariffs on imported goods might drive up material costs, contributing to construction inflation. Additionally, stricter immigration policies could exacerbate labor shortages, further affecting project timelines and costs.
The interplay of these factors will be critical to monitor as the construction industry prepares for 2025.